A recent report published by Infinium Global Research on carbon fiber market provides in-depth analysis of segments and sub-segments in global as well as regional carbon fiber market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional carbon fiber market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global carbon fiber market. According to the report the global carbon fiber market is projected to grow at a CAGR of 11.7% over the forecast period of 2018-2024.
The carbon fiber is the fiber made from the carbon crystals by connecting them in the long axis. The carbon fiber is available in a diverse form and can be manipulated as per the application requirement. When the carbon fiber combined with resin they form a composite that has high tensile strength but is very light in weight. The carbon fiber offers many advantages over the glass fiber and plastic fiber as the high strength, rigidity, corrosion resistance, electrical conductivity and so on.
Versatile properties offered by carbon fiber based components they are used in various industries such as aerospace and defense, automotive, construction and infrastructure, wind energy, sporting goods and so on. The carbon fiber reinforced composite materials are used to make the aircraft, spacecraft part, and automotive parts as they need high strength and low weight. The carbon fiber fulfills the requirements as they offer high strength with a relatively low weight with high corrosion resistance.
The rapidly growing use of carbon fiber in the aerospace and spacecraft for the manufacturing of various parts is the primary factor driving the growth of the carbon fiber market. In addition, increasing awareness about the excellent mechanical and physical properties of Carbone fiber rises it is used in various industries likely to boost the growth of Carbone fiber market. However, the high cost of carbon fiber is hampering the growth of Carbone fiber market. Moreover, growing demand for lightweight but strong material from the automotive and aerospace industries are projected to create more opportunities in upcoming years.
Among the region, North America dominates the market of carbon fiber market. The presence of the largest aircrafts makers in this region results in increased demand for Carbone fiber in this region. Many automotive manufacturers are focusing on the production of lightweight cars that is likely to boost the growth of the carbon fiber market in this region.
The report on global carbon fiber market covers segments such as type, application, and end user industry. On the basis of type, the global carbon fiber market is categorized into virgin fiber (VCF) and recycled fiber (RCF). On the basis of application, the global carbon fiber market is categorized into textiles, composite materials, microelectrodes, and catalysis. On the basis of end user industry, the global carbon fiber market is categorized into aerospace and defense, automotive, construction and infrastructure, wind energy, sporting goods, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global carbon fiber market such as Toray Industries Inc., SGL Group, Teijin Limited, BASF SE, Mitsubishi Rayon Co., Hexcel Corporation, Hyosung Corporation, Nippon Steel & Sumitomo Metal Corporation, and Formosa Plastic Corporation.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global carbon fiber market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of carbon fiber market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the carbon fiber market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the carbon fiber market to understand the present and future trends in this market and formulate their strategies accordingly.
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